This invention relates generally to a paper feeding mechanism for a compact flying printer and particularly to a paper feeding mechanism capable of feeding one or more webs of paper, at selectively variable feeding rates. Conventional paper feeding mechanisms, generally feed a web of paper at a feed rate corresponding to one line of type for each printing cycle. If a printing operation requires a paper feed of more than one line of type for each printing cycle, it is necessary to repeat the feeding operation each time one line is typed or printed. Such paper feeding mechanisms are therefore limited to a single paper feeding rate. Although paper feeding mechanisms are available that feed more than one web of paper, these feeding mechanisms are generally less than completely satisfactory since both webs of paper are fed at the same time, even when only one web feed is required. Moreover, both webs of paper are fed at the same rate. When different feed rates and/or a dual paper feed is provided, the feeding mechanisms require multiple drive motors. Accordingly, a paper feeding mechanism capable of feeding at least one web of paper at selectively variable feed rates and/or independently feeding a plurality of webs of paper, utilizing a single drive mechanism, is desired.